Paul Bulcke to step down early as Nestlé Chairman

Nestlé’s chairman Paul Bulcke will step down earlier than planned, just weeks after the sudden dismissal of CEO Laurent Freixe.

Bulcke will be replaced by Nestlé’s current vice chairman of the board, Pablo Isla, on 1 October.

Freixe was fored due to an undisclosed romantic relationship that violates the company's code of business conduct.

Bulcke, who has been chairman since 2017, was planning to leave next April 2026.

“This is the right moment for me to step aside and accelerate the planned transition, allowing Pablo and Philipp to advance Nestlé’s strategy and guide the company with a fresh perspective,” Bulcke said in a statement.

He joined the company in 1979 as a marketing trainee and went on to hold senior roles across South America and Europe, including managing director posts in Portugal and Germany.

Dick Boer has been appointed Lead Independent Director and Vice Chairman of the Board of Directors.